Ares Commercial Real Estate Co. (NYSE:ACRE) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its stake in shares of Ares Commercial Real Estate Co. (NYSE:ACRE) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,290 shares of the real estate investment trust’s stock after selling 3,193 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.23% of Ares Commercial Real Estate worth $891,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Ares Commercial Real Estate by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,783,379 shares of the real estate investment trust’s stock worth $20,736,000 after acquiring an additional 34,611 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Ares Commercial Real Estate by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,234 shares of the real estate investment trust’s stock worth $382,000 after purchasing an additional 1,949 shares during the last quarter. Strategic Wealth Partners Ltd. acquired a new stake in shares of Ares Commercial Real Estate in the first quarter valued at approximately $134,000. Virtu Financial LLC bought a new stake in shares of Ares Commercial Real Estate during the first quarter valued at approximately $108,000. Finally, Bright Futures Wealth Management LLC. acquired a new position in shares of Ares Commercial Real Estate during the first quarter worth approximately $630,000. 41.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on ACRE. StockNews.com downgraded Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered their price target on Ares Commercial Real Estate from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Finally, Wells Fargo & Company downgraded shares of Ares Commercial Real Estate from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $7.50 to $7.00 in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.10.

Ares Commercial Real Estate Trading Down 1.0 %

Shares of ACRE stock opened at $7.22 on Wednesday. The stock has a 50-day simple moving average of $6.87 and a 200 day simple moving average of $6.99. The stock has a market capitalization of $393.79 million, a P/E ratio of -6.12 and a beta of 1.46. Ares Commercial Real Estate Co. has a fifty-two week low of $6.25 and a fifty-two week high of $11.24. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.38.

Ares Commercial Real Estate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 13.85%. Ares Commercial Real Estate’s dividend payout ratio is currently -84.75%.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originates senior mortgage loans, subordinate debt and preferred equity products, mezzanine loans, and other CRE investments, including commercial mortgage-backed securities.